1. Technological Innovation: Generating Economic Results NSF IGERT Program Presentation REE October 27, 2004 Marie Thursby Hal and John Smith Chair for Entrepreneurship College of Management TI:GER ®

2. Cross-University Graduate Program in Technology Entrepreneurship Technology commercialization requires integration of –Science & Engineering expertise –Knowledge of management, law, economics, and public policy Targeted students –PhDs in Science & Engineering (Ga Tech) –PhDs in Management (Ga Tech) and Economics (Emory) –MBAs (Ga Tech) –Law (Emory)

3. Industry Survey on PhD Graduates “Good” – –Technical Skills “Inadequate” – –Ability to think & solve problems “Need Improvement” – –Management Skills – –Communication Skills – –Teamwork Skills Source: IRI Interviews with Industrial Leaders RE: University Education of Engineers and Scientists

4. Need for TI:GER trained PhDs “Biggest Problem(s) in R&D” Managing R&D for business growth Balancing long-term and short-term R&D Integration of R&D and business strategy Making innovation happen Assessing productivity IRI Survey > 190 Responses (4 of 5 years) “Top 5 ‘Top 3’ Problems”

5. Need for TI:GER trained MBAs and JDs- Understanding Technology Helps

6. Comprehensive Goals All graduates with skills and entrepreneurial perspective needed to succeed in innovation related careers –S&E PhDs aware of business and legal issues –MBAs & JDs experienced in technical research environment –Communication and team skills Produce S&E dissertations of technical merit and market relevance Produce dissertations in management, law, and economics that improve our understanding of innovation

7. PhDs ScienceClasses/Labs Interdisciplinary Research Centers EngineeringClasses/Labs JDs & MBAs PhDs Law/MgtClasses Thesis ResearchEcon/MgtClasses Clinics/Internships Market Informed S&E Research Graduates aware of technical, legal, market, interpersonal, & communication issues Mgt/Law/Econ Research on the Innovation Process TI:GER Core multi- disciplinary teams & classes Multidisciplinary Research: Engineering, Science, Management, Law & Economics TI:GER vs. Traditional Graduate Programs

8. Activities By Year (PhD Candidates) TI:GER Participation 12345 S&E Courses Regular RA/TA S&E Courses Regular RA/TA Principles of Management Innovation Fundamentals TI:GER Teams & Workshops Innovation Electives TI:GER Case Course TI:GER Teams & Workshops Entrepreneurial Finance, Legal Issues in Technology Transfer Organizational Entrepreneurship, Special Topics in Technology Mapping, Technology Venture Creation

9. MBA Program 12 MBA Core Innovation Fundamentals TI:GER Teams & Workshops InnovationElectives TI:GER Case Course TI:GER Teams & Workshops MBA TI:GER Participation 12345 PhD Program

10. Emory JD Program 12345 PhD Program TI:GER Participation JD 1 23 Corporate Finance IP/Business Law/ Tax Concentrations TI:GER Case Course TI:GER Teams & Workshops Law CoreBusiness Associations Patent, Copyright & Trademark Law Innovation Fundamentals TI:GER Teams & Workshops 1

11. Fundamentals of Innovation (Year 1) Patterns of Technological Change Introduction to Intellectual Property Law Developing the IP Strategy Discovering and Framing the Market Opportunity Entrepreneurial Finance Commercialization Planning Fundamentals of Business Associations Start-Up Business Planning and the Path to Profitability Securities Law

12. Special Topics in Innovation (Year 2) Business Planning Workshop Entrepreneurial Spawning Seminar ( Josh Lerner) Patent Prosecution Workshop Venture Capital Financing Simulation Ethical Challenges in Developing and Commercializing New Life Sciences Technologies Seminar

13. Unique Team Experience Hypothesis formationScientific merit; technical feasibility Proof of conceptTesting and validation PrototypeRefinement and scale-up Market forecastPrior art, economic and social impact Legal landscape Competitive analysisRisk, product and platform definition Intellectual Property ProtectionPatent or copyright Business creation or license Capitalization Commercialization strategyFull market analysis (e.g. pricing, cost) Business AssociationsContractual issues INTEGRATED RESEARCH S&E/MGMT/LEGAL ISSUES

14. Summary Student Statistics 16 PhD Candidates, developing EARLY STAGE research in a range of disciplines Biology Biomedical Engineering Chemistry Computer Science Electrical Engineering Mechanical Engineering 1 PhD Candidate in Economics; 2 in Management 16 MBA Students 30 JD Students (Technology and Patent Law)

15. Keys to Collaboration Mutually beneficial activity for all units involved Internal buy-in –Faculty— Supplying students Participation –Administration Course credit External support –Industry-business partners –Private foundations (NCIIA, Peterson) –Government grants (NSF)

16. Challenges Logistics …e.g. distance, schedules Time commitment of faculty…e.g. credit toward teaching load Cultures separated by a common language …e.g. What is research? –PhD (create new knowledge, experimental methods) –MBA (market research, bottom line) –JD (logical progression, precedent)